Interest Rate on Fixed Deposits Up To 9.25%: Verify Five Banks’ April Revised FD Rates

Banks periodically adjust the interest rates on fixed deposits. It also depends on how often they extend their credit products to additional clients. Some banks have changed their interest rates as of April 1, 2024, the start of a new fiscal year. Let’s examine the institutions that provided competitive fixed-rate loans.

Bank FD Rates for Fincare Small Finance
Interest rates for fixed and savings bank deposits at Fincare Small Finance Bank (SFB) have been updated. The revised prices will take effect on April 17, 2024. It provides up to 7.25% on savings accounts, up to 8% on fixed accounts for regular people and 8.50% for senior citizens.

Fixed Deposit Rates at IDBI Bank
Interest rates on IDBI Bank’s term deposits for sums less than Rs 2 crore have been adjusted. The Bank offers ordinary consumers interest rates ranging from 3% to 7% on FDs due in seven days to ten years, and senior citizens interest rates ranging from 3.5% to 7.5% on FDs under Rs 2 crore.

It gives older people 7.55%. Under the Utsav FD of 300 days, the bank offers normal, NRE, and NRO clients an interest rate of 7.05%.

Fixed Deposit Rates at Federal Bank
With effect from April 18, 2024, Federal Bank modified the interest rates on fixed deposits for both resident and non-resident accounts. For terms ranging from seven days to ten years, the bank provides FD interest rates to common residents, ranging from 3% to 7.40%. 7.40% is the highest interest rate available to regular residents, and it is valid for 400 days.

The bank gives older folks an interest rate that ranges from 3.50% to 7.90% for a duration of seven days to ten years. The maximum interest rate available to older folks is 7.90%, and it is available for 400 days.

Rates for Bank of India Fixed Deposits
The Bank of India provides interest rates ranging from 3.25% to 3% for terms ranging from seven days to ten years. The revised rates will take effect on April 1, 2024.

FD Rates at Suryoday Small Finance Banks
The fixed deposit interest rates of Suryoday Small Finance Bank (SSFB) have also been modified. The revised rates will take effect on April 1, 2024.

For deposits under Rs 2 crore, the bank provides interest rates ranging from 4.00 percent to 9.01 percent for ordinary residents and from 4.50 percent to 9.25 percent for senior citizens. The maturity duration is seven days to ten years.